Gombe State Mulls Raising N30bn Green Bond from Capital Market
The Governor of Gombe State, Alhaji Muhammad Yahaya, yesterday revealed that the state government is planning to raise N30 billion green bond from the capital market to advance its economy, calling on investors to invest in the State’s agriculture and infrastructure development.
The Governor speaking to journalists at the “closing gang ceremony” on the Exchange stated that “the State intends to raise N30 billion for the start and we may break it into tranches.”
Yahaya noted that the green bond is an initiative aimed at raising funds to finance ecofriendly and environmentally friendly investments, especially in assets that will contribute to the restoration and upliftment of human life so that we can reduce the impact of climate change and global warming.
He said, “with the support we saw and the acceptance of the Nigerian capital market stakeholders, we are going to hit our target.”
He added that the capital market is the ideal place for any investor, either government, public or private sector to pull funds for development.
On reason to invest in Gombe, Yahaya who was speaking at the State’s GoInvest 2.0 with the theme, ‘Unlocking Potential, Advancing Together: Invest in Gombe State’, said the State was ranked fifth out of 36 States on the following index assessed: accessibility, open budget, public procurement, human resources, anti-corruption and citizens engagement, expressing that Gombe still maintains it’s position as number one in ease of doing business in Nigeria.
The Governor said the State has been ranked number one (two years in a row) by the survey of the Ease of Doing Business (EoDB) in Nigeria.
He also added that Gombe presents investment opportunities across the tomatoes value chain, stating that the livestock sector in Gombe State remains a hidden opportunity waiting to be harnessed and the State has the Largest Grazing Reserve in Nigeria with 146,000 Ha of Land, comprising of six Veterinary Clinics, Milk Collection Centre and Modern Abattoir and 16 Boreholes.
He said the government’s commitment to maintaining peace and fostering a businessfriendly environment has been a key factor in ensuring the State’s security and attractiveness to investors.